KeyCorp misses by $0.02
- Reports Q4 (Dec) earnings of $0.45 per share, $0.02 worse than the S&P Capital IQ Consensus of $0.47.
- 4Q18 results included a net impact of $.03 per common share related to notable items: a pension settlement charge and efficiency initiative expenses
- Q4 Net interest margin from continuing operations of 3.16% vs 3.18% in Q3
- Cash efficiency ratio and return on average tangible common equity improved over 300 basis points vs. the prior year
- Strong credit quality: 4Q18 net charge-offs to average loans of .27%
KeyCorp provides FY19 outlook in slide presentation and long term guidance
- Co sees FY19 loans of $90-91 bln.
- Co sees FY19 net interest income of $4.0-4.1 bln.
- Co sees long term cash efficiency ratio of 54-56%.
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